How to choose the right software that suits your needs? There are just two key questions to ask.
The first key question is, if the software in questions lets you to upscale your business. Good retail software is built having expansion in mind.
Secondly, is the software ready for omni-channel retail? Omni-channel retail means that you can trade in multiple locations, online and web sales channels at the same time. To say it another way, you should be able to interact with your customer where and when ever it's best for the customer.
To manage a single store, the most important features to look for include Point-of-Sale management, Inventory control, and Customer Relationship Management (CRM). The software should have invoicing and cash desk features plus smooth integration with accounting solutions like QuickBooks or Xero. Advanced payment features, notably Paypal payments, are becoming increasingly important, too.
When it comes to managing a retail business, the most difficult jump for retailers comes when they transition from one storefront to two or more. Additional storefronts today can be both physical and on the Web. To be ready to meet the growth, the software has to enable you to:
- Manage multiple stores;
- Maintain both an online store and a brick-and-mortar presence
- Manage warehousing, distribution and fulfillment (on your own or in conjunction with third parties)
An enterprise has two basic divisions: front end and back end. Front end is where your clients are. It's also the door that money comes in from. Back end is your resources. This is where the money goes out, i.e. products and raw materials are handled, stored and manufactured.
The keys to success are in the question how to match front end and back end in the smoothest way possible. The answer to it is to use all-in-one retail management software. It not only enables smooth everyday operations but gives you an advanced real-time overview for strategic planning.
This an essential question to ask, as you never know what can happen in a retail business. A new format may be developed, or a merger or acquisition may take place, changing the strategic direction of an entire company overnight.
It’s important to be prepared, and to have a retail management and POS system that can scale to accommodate the very largest or the very smallest of stores. Retail management software should be modular. It should grow with you.
Erply ERP Retail Management software provides your business with a strong backbone for building a successful retail chain or a franchise network.
Erply has large fast-paced retail companies on board, so the modular, customizable software architecture is verified to meet growth. Based on hybrid cloud technology, it works both online and offline, and can accommodate any retail outlets, including ecommerce and franchise operations.
The goal for any retailer is to maintain proper inventory levels and never to run out of popular items. This is difficult when retailers aren’t sure how particular SKUs are performing. Modern inventory management software lets retailers to increase gross margins by improving inventory sell-through and inventory turnover. Retailers avoid lost revenue to discounted, clearance items by using stagnant stock from stores with low sales velocity.
Retail software like Erply's ERP helps a vendor to eliminate stock outs across retail stores and digital channels by leveraging inventory from across the entire retail network. You can reduce carrying costs by automatically sourcing products from multiple inventory pools based on custom business rule sets.
There are several Inventory Management back end features that have to be available for retail operations:
- Min/Max ordering
- Automated stock replenishment
- Multiple price lists support
- Inventory Transfers
- Forecasting analytics
- Fully featured Supplier Purchasing & Receiving
- Flexible attribute support
- Matrix products
- Across company stock visibility
- EDI support
- Supplier database
- Supplier price list management
Products coming in, products being sold, and all at the speed of light. ERPLY Retail ERP is ready for building automated purchasing and inventory management solutions that are used by large retail companies like Walmart or Elizabeth Arden. Manage suppliers, define min/max levels and forecast orders based on sales history, and use our revolutionary Stock Replenishment feature for purchasing automation.
To succeed in providing omni-channel sales experience, a retailer must handle a large variety of merchandize and prices. The prices must be easily adjustable to marketing campaigns, supply levels and supplier/manufacturer prices. Therefore central price list management is indispensable.
Erply Retail ERP lets you create as many Price Lists as needed. You can set seasonal or supplier-driven Pricing Rules. The pricing is automatically adjusted across all the inventory management software solutions.
Besides time periods, Price Lists can be associated customer groups, or product groups, and can be turned on and off for easy re-use in the future. This enables you to communicate consistent price policy to multiple outlets and franchise operations.
Success in retail is impossible without proper knowledge. When choosing retail software, be sure that it provides you with a good set of standard reports plus an option to customize your own. Your retail software should be able to generate detailed sales reports that not only identify your best selling items and returns, but record margins and measure the effectiveness of your pricing.
Erply's powerful reporting module translates all of your transaction data into clear, concise reports that measure sales performance. ERPLY contains a wide array of pre-built reports for Retail Stores, Point of Sale, Inventory, Purchasing, CRM, Employees and more. Use standard reports or create customized reports, and enjoy real time reporting to make the right decisions.
Nowadays we often read articles about online vs. brick-and-mortar retail battle. This might lead to a misconceptions that retail software can be only suitable for either of these. The truth is, if a software vendor shies away from supporting ecommerce or physical sales outlet, there's something wrong.
A retail management suite should bridge in-store and online sales, and provide a warehousing backbone for both. No matter if your retail company is doing only online or offline, software has to be ready for changes and to work for online and offline.
There are some important features that help bridging both worlds, and allow you to build a modern omni-channel retail network:
- In-Store Pickup to increase your cross-channel sales, retail store foot traffic and customer loyalty.
- Ship-from-Store: provide faster delivery by converting your brick and mortar stores into localized distribution centers for online order fulfillment. The flexibility of ERPLY retail management system lets you seamlessly integrate locations with e-commerce platforms (Magento, Demandware, Netsuite, Shopify).
- Product Information Management for consistent product descriptions, prices, labels, barcodes in-store, for e-commerce and in warehouses.
To increase ROI on marketing campaigns with more shoppers, higher digital conversions and more effective cross sell and upsell strategies, a retailer needs to personal approach to customers. Erply has a central Customer Profile that gives you a real-time, 360-degree view of customers across all retail outlets including store, mobile, kiosk and site.
For Customer Relations Management, modern Retail CRM software incorporates sales history tracking, email receipts, as well as customer grouping. It is built to aggregate customer order information, preferences and shipping behavior in multiple channels. The data is loaded to a single repository that is designed to drive new levels of customer satisfaction and loyalty.
Multifunctional Erply Retail CRM lets you capture customer data, keep in touch with your customers, and send email alerts of special sales or upcoming events. Your can develop customized marketing campaigns, and track ROI per client.
A modern ERP software platform provides tools to reduce fraud and losses. It also improves security by outlining, which data each user can access. Each employee can be given a limited amount of discount to provide at the register, and commissions awarded to the employee who closed a deal.
In Erply, the management and head office features are aimed to increase productivity. For example you can establish sales targets for stores, vendors and individual employees. Erply Retail Back Office let you to compare sales targets to real-time sales performance reports, so you can tailor commissions and reward employees based on performance.
There is an advanced set of management functions in Erply's Retail ERP:
- Employee time-clock
- Employee commissions tracking
- Employee task assignment
- Centralized employee metrics tracking
- Configurable user rights
- Store grouping
- Store-specific pricing
- Customizable hot-buttons
- Store level drill down reporting
- Store Comparison reporting
- Time period comparison reporting
- Custom report generator
- Discount reason support
- Sales orders
- Layaway (lay-by)
- Supplier and purchasing analytics
For POS software, it should be able to accommodate different classes of retailing. The applications should run in multiple retail environments varying in format, size, volume, product assortment, and promotional structure. It is crucial to have reporting and analytics, and a wide range of features, even if these are not yet implemented.
Erply POS is integrated with enterprise resource planning, allowing to take advantage on many retail sales features right out-of-the-box. The all-channel retail sales management software suite is rich in features:
- Sales promotion ROI analytics,
- Gift card support,
- Store credit,
- Customer Loyalty programs,
- Sales Promotion module with a full set of features,
- Built-in coupon generator,
- Gift kits and product bundles,
- Suggested product prompt,
- Price List Management,
- Customers' purchase history,
- Customer grouping,
- Facebook/Twitter capture,
- Shelf label printing,
- PayPal payments,
- Real-time reporting.
Erply Retail ERP software contains all the tools needed to inform, remind and persuade your customers and to influence consumer behavior. You can use CRM to get a clear picture of which campaign is the most effective, and drill down to marketing campaign's ROI per single customer.
There are built-in features to transform your Retail POS into a powerful customer retention tool and attract new clientele. Your can center your omni-channel commerce strategy on the customer experience – promoting repeat sales and loyalty by providing sophisticated customer service across all your retail channels.
- Custom Sales Promotions
- Customer Loyalty Programs
- ROI tracking
Retail management software should not demand a complicated and expensive hardware overhaul. You have to be careful about choosing a proprietary based technology. Hardware is generally computer and/or tablet based and the software should support a wide range of devices, including the old ones you already have.
Erply ERP and POS software is designed for mixing and matching hardware. There are fully integrated Points of Sale for iPad tablets, Windows PC-s, Android smartphones, and dedicated POS hardware like POS registers. Cloud-based, mobile and easy to configure, ERPLY simplifies running multiple registers. You can ring up sales, track customers, and manage inventory and employees from any LAN or wireless network.
The basic definition of retail is that it's the sale of goods to the public for use or consumption rather than for resale. It involves the sale of goods from store, market, webstore or other channel directly to a consumer. The retail goods are sold in small quantities and to the end user.
The succession of goods from manufacturer to consumer is the supply chain. A retailer purchases goods in bulk quantities either directly from the manufacturers or through a wholesaler. The final link of supply chain is the consumer who buys goods from the retailer in small amounts, to satisfy his/her needs and demands.
The all too familiar act of shopping is retailer's ultimate goal, the point where the money comes in. While shopping is crucial for making money in retail business, integrated retail software lets you to maximize profits by cutting costs, keeping optimal stock levels and managing customer relations.
There are several types of retail. Independent Retailer is someone who builds his/her business from the ground up, often using a limited number of sales associates and back office people. Though notebooks and Excel charts can do the thing for a while, some sort of retail software is essential to have things running.
Franchising means acquiring the rights for a proven business model. A franchise is the right to use a name, product, concept, business software and a business plan. For a successful business, franchising is often the preferred way to grown nationally and worldwide. A franchise chain essentially runs on a unified software platform that is also a part of the package that franchisee is willing to pay for.
Dealership is a mix of franchise and independent retailer. Business owner has the license to sell a brand of products – usually there is a variety of brands. Unlike a franchise, there are no fees to pay to the licensor. Dealerships use retail software that has various levels of integration to the company whose brand they are selling.
Network Marketing or multi-level marketing is a business model where selling of products depends on the people in the network. A networked person is often not working on commission but buys products and builds a network to sell these to, recruiting other people to sell these goods, too.
Big-Box Store. This is where things get big. A big-box store (also supercenter, superstore, or megastore) is a physically large retail establishment, usually part of a retail chain, and for decades already, a big-box-store cannot do without advanced retail management software.
A Retail Chain (also chain stores) is a series of retail outlets that share a brand and central management, and usually have standardized business methods and practices. It's said that a real retail chain must have more than 10 units in 2 or more distinct geographies under the same brand, and have a central headquarters, otherwise it's a business that offers franchise contracts. These characteristics also apply to chain restaurants and some service-oriented chain businesses. Retail chains very much depend on integrated sales and inventory software solutions like Erply's ERP.
There are many benefits for a retailer to implement cloud based enterprise resource planning (ERP) systems that also integrate online and offline point of sale (POS) systems.
- A POS and ERP system will provide you with valuable information. At the end of the day a cash register would only show your cash flow. Computerized cash register reports show all this and more in real time, like how much money is left in the cash drawer, and how much of that is profit. It helps you to keep an eye on your inventory – which items were sold, their quantity, and how many products are left in stock.
- ERP provides better inventory management. Inventory reports will provide you with accurate information to forecast inventory levels and event to place automatic stock replenishment orders. With software like Erply Retail ERP you'll have real-time trade trends, sales history, goods that are running low, merchandize that has stayed in stock for too long, etc.
- Accuracy. The system automatically deducts discounts and shows special prices. Your employees won’t have to keep a close eye on discounted prices because the system already does this.
- Prevent theft. Employees are more alert and watch inventory much more carefully if they know that stock is being monitored.
- Customer satisfaction. Your clients will be happier if you use bar-code scanners and other computerized tools to make checkout faster.
- Customer database. ERP software can store the names, contact information and sales history of your clients. This can be used for to reinforce customer loyalty, or for create marketing campaigns, newsletters and advertising.
A modern retail software solution has many easy-to-use features that are designed to improve customer experience. For a contemporary retailer it is essential to get real-time, accurate customer information and order history from all channels, employees and touch points. It's also important to offer multiple payment options and speedy checkout.
Erply has implemented innovative payment methods such as card-less PayPal payments (Paypal POS), as well as built-in Store Credit tracking, so you can offer any payment option your customer prefers. It also lets your to communicate up-to-date information with Product Information Management module. You can create tailored loyalty programs and track customer behavior right in your Retail Point of Sale.
As technology is evolving at a breakneck pace, make sure the Retail Management software you choose today won’t become obsolete tomorrow. ERPLY's pioneering development team focuses on adding new tools that promote business growth and retention. We keep a close eye on the innovation in Retail and Software as a Service (SaaS), so our clients don't need to spend time on research to receive the benefits of the latest technology.
Cloud-based POS systems eliminate the need for costly upgrades and any security concerns associated with traditional client-server systems. Consistent software updates are necessary so your system always has the latest features and security requirements. In Erply, these automatic updates are free for the lifetime of your account.